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Allen Company acquired 1 0 0 percent of Bradford Company's voting stock on January 1 , 2 0 2 0 , by issuing 1 0
Allen Company acquired percent of Bradford Company's voting stock on January by issuing shares of its $ par value common stock having a fair value of $ per share As of that date, Bradford had stockholders' equity totaling $ Land shown on Bradford's accounting records was undervalued by $ Equipment with a fiveyear remaining life was undervalued by $ A secret formula developed by Bradford was appraised at $ with an estimated life of years.
The following are the separate financial statements for the two companies for the year ending December There were no intraentity payables on that date. Credit balances are indicated by parentheses.
tableAccountsAllen Company,tableBradfordCompanyRevenues$
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